The Agency Group Australia Announces The Acquisition

  • Jan 18, 2019 AEDT
  • Team Kalkine
The Agency Group Australia Announces The Acquisition

After acquiring all the issued shares in the top level, the Agency completes acquisition of high-growth east coast real estate firm Top Level Real Estate Pty Ltd. Through a share placement complete, the company completes capital raising of $8.4 million via a share. One of the fastest growing national real estate companies in Australia, transaction makes the Agency.

Upon completion of the acquisition, Mr. Matt Lahood commences as an Executive Director of the agency now comprises a national real estate business having two prominent brands with 293 number of agents and 1121 number of properties sold and $1.2 billion value of properties sold and 4,209 properties under management and 1,394 listings. The group revenue is at $24.5m as of December 31, 2018. 

With the ability to materially grow the number of agents and properties under management with limited capital expenditure or increase in corporate overheads business has been built for scale. Across Australia who is attracted to disruptive model, inquiries continue from agents and real estate firms. The agency WA has achieved approximately 4.5% market share in WA within two years of establishment and is targeting 30% growth in FY2019.

To advise the acquisition of all the issued shares in high-growth east coast real estate firm Top Level Real Estate Pty Ltd by The Agency’s wholly-owned subsidiary Ausnet Real Estate Services Pty Ltd. with all conditions precedent to the transaction having been satisfied has now been completed.

With offices in Melbourne and the Gold Coast and plans to expand into Brisbane, Canberra, the company has a strong footprint in the Perth and Sydney residential property markets Canberra and further expand its Western Australian operations.

The company confirms that it has issued 64,673,333 shares and 333,333 options. The residential sales and management division of the Vicus Property Group, the Agency is pleased to announce the acquisition of Vicus Residential. The company made the $75,000 cash payment as payment for all of Vicus Residential’s issued shares and has completed the issue of 2,666,667 shares, after receiving shareholder approval on 15 November 2018.

Increasing total property management on The Agency’s books to approximately 800 in the state, the acquisition sees The Agency’s WA operations grow by four staff and add more than 200 rental properties predominantly in the inner city of Perth.

The Agency Group Australia (ASX: AU1) last traded at on January 10, 2019. As of January 18, 2019, the company’s share price stood at $0.140. In five years the company has performed more than 50.84% higher.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK